Photo: Sue Danielson
(Undated) -- Iowa farm land has risen 14-percent in value in the past six months, and is up nearly 33-percent over the past 12-months. The Realtors Land Institute- Iowa Chapter credits higher grain prices. The organization says the increase in value is not surprising, given record auction prices reported in many counties in Iowa.
The Realtors Land Institute- Iowa Chapter surveyed specialists in farmland and asked opinions about the current status of the Iowa market. The estimates for average value farmland were for bare, unimproved land, with a sale price on a cash basis.
The survey also asked for pasture and timberland values.
The survey found pastureland rose by 12.3% and Timberland rose by 11.2%.
The Institute notes current interest rate levels and low supply of land being offered to the market add strength as well.
The survey finds among buyers, 65-percent are farmers, 19-percent are local investors, and 16-percent are non-local investors.
Photo: Realtors Land Institute Iowa Chapter